Forbes analyzed the fortunes of the country’s richest people to identify each state’s wealthiest person. This is the magazine’s fifth edition of the list.
Maryland’s richest resident is developer Ted Lerner and family, worth $5.1 billion, according to Forbes.
Lerner is the founder of Lerner Enterprises, building a development empire that began with a $250 loan from his wife in 1952 to start a real estate company, selling homes for developers. Now he owns 20 million square feet of commercial and retail space, plus hotels, and 7,000 apartments.
Lerner Enterprises has developed properties like Dulles Town Center Mall and Reston Town Center in Virginia, Leisure World in Silver Spring, Fallsgrove Village Center in Rockville and others.
The family is the majority owner of the Washington Nationals, which they purchased in 2006, and Lerner Enterprises worked with the District of Columbia to construct Nationals Park. In 2018, Ted Lerner, who is now 93, handed over the reins to his son as the principal owner of the Nationals.
Click here to read the rest of the article written by Elizabeth Janney over at Maryland Matters